Seoul: The state arms procurement agency has granted Hanwha Aerospace Co. the approval to possess a K9A1 self-propelled howitzer, marking the first instance of a local defense firm being allowed to own arms products it manufactures.

According to Yonhap News Agency, the Defense Acquisition Program Administration (DAPA) made this decision to enhance efficiency in the development and promotion of domestically produced arms. Previously, defense firms were required to lease military equipment for overseas exhibitions and research and development, which resulted in a shortage of military assets and imposed financial burdens due to rental fees.

The approval follows a revision to the Defense Acquisition Program Act last year, which now permits defense firms to possess the arms products they develop and manufacture. DAPA emphasized that these measures have not only improved efficiency in weapons development but also reduced costs associated with renting equipment. This cost-saving allows defense firms to reinvest in research and development, further advancing domestic arms capabilities.